Centrica ends links with British Gas
Thursday 21 August 1997
Though Centrica has already moved its head office to Slough, it has recently taken a long lease on a building in Clifford Street in the West End of London, just round the corner from Regent Street and the clothes shops on Saville Row.
The move to Clifford Street brings to an end the much criticised decision by the old British Gas to take over part of the palatial Adelphi building overlooking the Thames. The company, then led by chief executive Cedric Brown, occupied the two top floors in the art deco building behind the Strand, which has stunning views over the river.
British Gas was said to have paid a substantial one-off "premium" to take over the Adelphi offices from Eurotunnel at the beginning of last year, with an annual rent of pounds 1.3m on top. BG, now the pipeline and exploration division, has previously announced its move to offices in Jermyn Street, which are much larger than Centrica's.
Property sources said Centrica was paying pounds 42.50 per square foot for the 4,500 square feet of office space in deal worth pounds 191,000 a year. The building, which has been refurbished for the new tenant and is considered to be "modest" in size, is owned by Great Portland Estates, the property group and has a lease likely to last for up to 15 years.
A spokesman for Centrica confirmed that the contacts had been signed and the company would take over the building in the autumn. "We have need of London deskspace for directors and other staff who come to town. Our previous building was not really appropriate."
He said Roy Gardner, Centrica's chief executive, was unlikely to have a permanent office in the building, which would be used to hold meetings with other business contacts. "It's purely a base for people when they're in London. The executive offices are all in Charter Court in Slough," said the spokesman.
Estate agents are thought to still be seeking a new tenant to take over the Adelphi offices.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
British are sexually uptight, dirty and drink too much – according to Spanish book
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...